Philippines, Feb. 19 -- The Asian Development Bank (ADB) will provide grants totaling $655,000 to nine rural banks and a bank consortium in the Philippines to implement digital transformation solutions aimed at catalyzing financial inclusion, especially in underserved sectors in the country.
The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program funded by the High-Level Technology Fund and the Republic of Korea e-Asia and Knowledge Partnership Fund. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, small, and medium-sized enterprises, which submitted their digital transformation project proposals following the program's launch in June 2023. The Rural Ban...